No Crypto Payments for Samsung Devices in the Baltics, CopPay admits

After a turbulent development and a string of posts and statements over the past five days, Lithuanian startup CopPay has acknowledged that Baltic residents will not be able to buy Samsung devices with cryptocurrencies.

People in the Baltics will not be able to pay with cryptocurrency for Samsung devices, CopPay admitted on Tuesday after turbulent developments over the past few days that broke an actual agreement, as the Lithuanian blockchain startup claims.

The news that the South Korean electronics giant will use CopPay’s payment services platform to enable clients in Lithuania, Latvia, and Estonia to buy its consumer electronics products with virtual coins broke out on Friday, when the startup claimed in a Medium post that “stores in the Baltic States now accept cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, Dash, Nem, and Steem as a means of payment using CopPay technology,” with the crypto payment feature set to be available soon at Samsung’s online stores as well. The post, which did not specify whether crypto payments will be available at online Samsung stores globally or just in the Baltics, was later deleted, but a cached version is still accessible.

Despite deleting the post, CopPay did not admit the information was inaccurate. In a new post, submitted on Monday, the startup stated “the news will be back soon after Samsung official announcement”.

On Tuesday, Next Web’s Hard Fork reported that Samsung had denied the information, with an unnamed company spokesman telling the outlet in an email:

“Our official response is that the rumor is not true.”

Later on Tuesday, CopPay published an official statement, where its CEO acknowledged the Samsung fiasco in what looks like a communication failure. The post claims CopPay provided its solution to the Baltic premium reseller of Samsung, a separate legal entity that was not identified.

“The official agreement was signed. We activated CopPay Payment Gates in Samsung Stores and trained personnel to show how it works, even a few transactions were made. In addition, we were preparing a mutual statement with representatives of Samsung PR division,” the statement reads.

“Unfortunately, after Samsung officially announced that it doesn’t have any plans for the crypto and blockchain payments, the reseller decided to suspend cryptocurrency payment method.”

About us

CoinFrenzy provides the latest news on Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Tron (TRX), and many more cryptocurrencies. We also feature interviews with popular people in the industry who bring their revolutionary ideas and products to life to make groundbreaking change.